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Board signs off on tax-incentive agreement for proposed South Stillwater data-center campus
Summary
The board approved a tax-incentive agreement and a related memorandum of understanding with the City of Stillwater that lays out phased payments tied to a proposed data-center development; city officials said the deal was negotiated to secure recurring payments to local taxing jurisdictions.
The Stillwater Public Schools Board voted Feb. 11 to approve a tax-incentive agreement and a related memorandum of understanding with the City of Stillwater tied to a planned data-center campus within city limits.
The agreement sets a multi-decade framework for property-tax exemptions and negotiated payment-in-lieu arrangements for the developer's planned buildings. During the meeting, the city manager explained the state's Oklahoma Local Development Act allows creation of tax-incentive districts for up to 25 years and that the local jurisdictions had…
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